If you own a property in Burnaby, British Columbia, it is important to know how to pay your property taxes on time. The good news is that the process is fairly easy and you don’t have to stress over it. First, you should receive a property tax notice from the city of Burnaby by mail in May, indicating the amount of taxes that are due. This notice is usually sent to the property owner’s address, or the address of their mortgage company, if they have one.
So, how do I pay property taxes in Burnaby? Well, there are a few options available to you. The most popular and convenient option is to pay online with your credit card. The city of Burnaby website offers a secure online payment portal where you can pay using Visa, Mastercard or American Express. You can also pay in person at the city hall using cash, check, credit card, or debit card. Alternatively, you can set up preauthorized payments to ensure your taxes are paid automatically each year on time. This is a great option if you prefer to avoid the hassle of remembering to pay taxes each year.
Different Methods for Paying Property Taxes in Burnaby
As a homeowner in Burnaby, paying property taxes is a necessary part of owning your home. Fortunately, there are several different methods for paying your property taxes. Here are some of the most common methods available:
- Online – you can pay your property taxes online through your financial institution’s website. This is a convenient option because you can pay from the comfort of your home and at any time of the day. You’ll need to have your property tax notice in front of you to enter the required information.
- In Person – you can pay your property taxes in person at Burnaby City Hall. Bring your property tax notice with you and be prepared to wait in line. The City Hall is open from Monday to Friday, 8:00 a.m. to 4:45 p.m.
- By Mail – if you prefer to pay by mail, you can send a cheque or money order to Burnaby City Hall. Make sure to include your property tax notice to ensure that the payment is properly credited to your account. It is recommended to send the payment well in advance to the due date to avoid late payment penalties.
- Payment Plans – Burnaby offers several payment plans that allow you to pay your property taxes in installment payments. This can be a helpful option if you are on a fixed income or have difficulty paying your taxes all at once. You can enroll in the plan at any time during the year, and the payments are automatically withdrawn from your bank account.
It’s important to note that property taxes are due on the first business day in July every year. If you are paying by mail, make sure to send your payment well in advance to avoid any late payment penalties. Failing to pay your property taxes on time may result in additional charges, interest, or even the risk of losing your property.
How to Calculate Property Tax in Burnaby
Property taxes are an essential part of owning a home in Burnaby. It is a tax levied on the assessed value of your property, which is a combination of the market value assessment and the property classification. Property taxes fund various essential public services like schools, healthcare, roads, and several other municipal services. To calculate your property tax in Burnaby, follow the steps below.
- The first step is to determine your property’s assessed value. To do this, you can use the latest assessed value from BC Assessment provided each year. You can also view your property’s assessment online by visiting the e-valueBC website.
- Next, you need to calculate your property tax rate, which is a percentage of your property’s assessed value. Property taxes in Burnaby are calculated using the mill rate, which is a value that represents the amount of tax per thousand dollars of assessed property value. The mill rate varies based on your property classification.
- After determining your property tax rate, multiply it by your assessed property value. The result is your property tax payable.
Here’s a sample calculation:
| Assessed Property Value | Property Tax Rate | Property Tax Payable |
|---|---|---|
| $750,000 | 3.965 | $29,735 |
It is important to note that property taxes in Burnaby are due annually by July 2nd each year, and failure to pay on time attracts a penalty fee and interest charges. If you’re unsure of the assessed value of your property or have any questions about your property taxes, contact the Burnaby Tax Department or visit their website for further information.
Late payment penalties and interest rates for Burnaby property taxes
When it comes to paying your property taxes in Burnaby, it’s important to make sure that you pay on time to avoid any late payment penalties or interest charges. Here’s what you need to know:
- If you don’t pay your property taxes by the due date, you will be charged a penalty of 5% of the outstanding balance.
- An additional 5% penalty will be applied if your taxes remain unpaid on the following January 1st.
- Interest is also charged on outstanding taxes at a rate of 1.5% per month until the balance is paid in full.
It’s important to note that the penalties and interest charges can add up quickly, making it even more difficult to pay off your property taxes. The best way to avoid these fees is to make sure you pay on time.
If you are having difficulty paying your property taxes, there are options available to you. The City of Burnaby offers a Tax Deferment Program for eligible homeowners, which allows you to defer payment of your property taxes until you sell your home or it becomes part of your estate.
Additionally, if you have extenuating circumstances that prevent you from paying your property taxes on time, you may be able to apply for penalty and interest relief. This is a discretionary program, and each case is considered on its own merits.
Summary
It’s important to pay your property taxes in Burnaby on time to avoid late payment penalties and interest charges. If you are having difficulty paying your property taxes, consider the Tax Deferment Program or penalty and interest relief programs as options.
| Payment Schedule | Penalty | Interest |
|---|---|---|
| On or before the due date | N/A | N/A |
| After the due date and before January 1st | 5% | 1.5% per month |
| After January 1st | 10% | 1.5% per month |
Remember, paying your property taxes on time is crucial to avoid additional fees and charges. If you’re struggling to make your payments, be sure to explore the options available to you.
Pre-authorized payment plan for Burnaby property taxes
If you are a property owner in Burnaby, you are required to pay your property taxes every year. One way to make this process more convenient for yourself is by signing up for the pre-authorized payment plan.
The pre-authorized payment plan is a program offered by the City of Burnaby that allows property owners to pay their property taxes in monthly installments over the year. This means that instead of having to pay a lump sum once a year, you can spread out the payments and make them more manageable.
- To sign up for the pre-authorized payment plan, you will need to complete an application form which can be found on the City of Burnaby’s website.
- You will also need to provide a void cheque or pre-authorized debit form to authorize the automatic monthly withdrawals from your bank account.
- The payments will be spread out over 10 months, starting in February and ending in November.
One benefit of the pre-authorized payment plan is that you do not have to worry about missing a payment deadline or incurring late fees. The payments will be automatically withdrawn from your bank account on the due date, so as long as there are sufficient funds in your account, there should be no issues.
If you have any questions or concerns about the pre-authorized payment plan or want to make changes to your account, you can contact the City of Burnaby’s Revenue Services department for assistance.
| Benefit | Details |
|---|---|
| Convenience | Spread out payments over the year |
| No late fees | Automatic withdrawals on due date |
| Flexibility | Option to make changes or cancel plan |
Overall, the pre-authorized payment plan is a convenient and hassle-free way for property owners in Burnaby to pay their property taxes. By signing up for this program, you can ensure that you remain in good standing with the city while also making the payment process more manageable for yourself.
Property tax deferral program in Burnaby for low-income seniors and persons with disabilities
Property taxes can be a heavy burden for many low-income seniors and persons with disabilities. Burnaby has addressed this issue by offering a property tax deferral program specifically for these groups. The program allows them to defer up to 50% of their property taxes until the property is sold or transferred, giving them financial relief and stability. Here is what you need to know about the program:
- Eligibility: To be eligible for the program, you must be a registered owner of the property and meet certain income and disability criteria. The annual household income of the applicant cannot exceed $45,000, and at least one of the homeowners must be aged 55 or older or have a disability.
- Application Process: The application process is simple. You need to fill out an application form, provide income verification, and have a current property valuation assessment. The application needs to be submitted by July 2nd of each year.
- Interest: Interest is charged on the deferred property tax amount at a rate of 1% per annum. The interest will accumulate while the taxes are deferred and needs to be repaid when the property is sold or transferred.
The table below summarizes the details of the Burnaby property tax deferral program for low-income seniors and persons with disabilities:
| Eligibility Criteria | Annual Household Income | Application Deadline | Interest Rate |
|---|---|---|---|
| Registered owner of property | $45,000 or less | July 2nd | 1% per annum |
| At least one homeowner aged 55+ or with a disability |
If you are a low-income senior or person with a disability struggling to pay your property taxes, the Burnaby property tax deferral program could be a helpful resource. With its straightforward application process and interest rate, it provides financial relief while allowing you to maintain ownership of your property.
What happens if you don’t pay your Burnaby property taxes
Property taxes are a crucial source of revenue for the Burnaby city government. Failing to pay property taxes can lead to severe consequences. Fortunately, the city provides several options to help property owners make their payments on time. However, if you fail to pay your property taxes in Burnaby, here are some of the consequences you can expect:
- Interest and penalties: If you miss the property tax deadline, you will accrue interest and penalties on the outstanding balance. The penalty for late payment is 5% of the outstanding balance after the due date. The interest rate charged on outstanding balances is 1% per month.
- Lien on your property: If you do not pay your property taxes for several years, the city may place a lien on your property. A lien is a legal claim against your property, and it allows the city to collect the owed taxes when you sell your property. In the worst-case scenario, the city may even foreclose on your property and sell it to recover the owed taxes.
- Court action: If you continue to ignore property tax payments, the city may take legal action against you. They can file a lawsuit to recover the owed taxes, plus any interest and penalties. If the court rules against you, you may be required to pay additional court fees.
To avoid these consequences, it is essential to make your property tax payments on time. If you are facing financial difficulties and cannot pay your taxes on time, you can contact the Burnaby Tax Office to arrange a payment plan. The office may be able to provide you with a flexible payment plan that suits your financial situation.
It is important to note that the consequences of not paying your property taxes in Burnaby can vary depending on your specific situation. For more information on your payment options and the consequences of not paying your property taxes, contact the Burnaby Tax Office.
If you are struggling to pay your property taxes, it is always better to communicate with the city and work out a solution. With proper communication and a bit of effort, you can avoid the severe consequences of not paying your Burnaby property taxes.
| Consequences of not paying Burnaby property taxes | |
|---|---|
| Interest | 5% of the outstanding balance after the due date |
| Penalties | 1% per month |
| Lien on your property | The city may place a legal claim on your property. |
| Court action | The city may take legal action against you to recover the owed taxes. |
If you’re still unsure about Burnaby property taxes or how to pay them, it’s always best to consult with a financial advisor or a real estate professional. They can help to provide additional guidance and support.
Appealing Property Tax Assessments in Burnaby
Property taxes are a significant expense for homeowners in Burnaby. The amount you pay in property taxes is based on the assessed value of your property. However, the assessed value of your property may not always be accurate, leading to an unfairly high tax bill. In this article, we’ll explore how you can appeal your property tax assessment in Burnaby.
- Understand the assessment process: Before you start the appeal process, it’s essential to understand how your property value was assessed. The BC Assessment Authority reviews the value of your property every year based on its market value, location, and condition. If you think your assessment is too high, you can appeal to the Property Assessment Review Panel (PARP) in Burnaby.
- File an appeal: To file an appeal, you must submit an appeal application form to BC Assessment Authority within sixty days of the mailing date of your property tax assessment notice. The application form requires information like your property address, roll number, and your reasons for appealing.
- Prepare your argument: Once your appeal is filed, prepare a compelling argument to support your case. This could involve gathering evidence such as recent sales of similar properties in your neighborhood, your property’s physical condition, or any other relevant information that could help reduce your assessment.
It’s worth noting that most appeals are resolved through negotiation with BC Assessment Authority without having to go to the PARP panel. If the parties cannot come to an agreement, the PARP will schedule a hearing date.
When filing an appeal, it’s helpful to have a good understanding of the appeals process, the facts surrounding your property, and support from professionals. Consulting with a qualified lawyer or property tax consultant can be beneficial. They can provide you with valuable information and assistance in presenting your appeal.
| Stage in the Appeal Process | Timeframe |
|---|---|
| Deadline for filing an appeal | 60 days after the date of assessment notice |
| Deadline for submitting documents to BC Assessment Authority | 30 days after filing appeal |
| Deadline for BC Assessment Authority to respond with evidence | 21 days before hearing date |
| Heard by the Property Assessment Review Panel | Between February 1 and March 15 |
Appealing your property tax assessment is a legitimate way to ensure that you are not paying more than your fair share. If you believe your property tax assessment is too high, take the necessary steps to appeal and reduce the burden on your finances.
FAQs: How Do I Pay Property Taxes in Burnaby?
1. What are the accepted payment methods for property taxes in Burnaby?
You can pay your property taxes using several methods, including online banking, in-person at city hall, by mail, and through a pre-authorized payment plan.
2. Is there a penalty for late payment?
Yes, there is a penalty for late payment of property taxes in Burnaby. The penalty is 5% of the outstanding balance plus 1% compounded monthly.
3. Can I pay my property taxes in installments?
Yes, Burnaby offers a pre-authorized payment plan that allows you to pay your property taxes in installments. You can choose from several installment payment options based on your preference.
4. How do I sign up for the pre-authorized payment plan?
You can sign up for the pre-authorized payment plan by completing the authorization form and mailing it to the city of Burnaby or submitting it in-person at city hall.
5. Can I receive my property tax bill electronically?
Yes, you can receive your property tax bill electronically if you sign up for e-billing. To sign up for e-billing, visit the city of Burnaby’s website and follow the instructions.
6. What do I do if I have questions about my property tax bill?
If you have questions about your property tax bill, you can contact the city of Burnaby’s Tax Department by phone, email, or in-person at city hall.
Closing Paragraph
That’s it! Now you know how to pay your property taxes in Burnaby. Make sure to pay on time to avoid late payment penalties. If you ever have any questions, don’t hesitate to contact the city of Burnaby’s Tax Department. We hope you found this article helpful. Thanks for reading, and visit us again soon!